Registration number: 05051097

Gateshead Visionplus Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 7

Gateshead Visionplus Limited

Company Information

Directors

Specsavers Optical Group Limited John Patrick Loughran Mary Lesley Perkins Kevin O'Halloran

Company secretary

Specsavers Optical Group Limited

Registered office

Forum 6 Parkway Solent Business Park Whiteley, Fareham United Kingdom PO15 7PA

Registration number

05051097

Gateshead Visionplus Limited

(Registration number: 05051097)
Balance Sheet as at 28 February 2026

	Note	2026 £	2025 £
Current assets
Debtors	4	113,770	111,604
Creditors: Amounts falling due within one year	5	(40,087)	(43,286)
Net assets		73,683	68,318
Capital and reserves
Called up share capital	7	120	120
Retained earnings		73,563	68,198
Shareholders' funds		73,683	68,318

For the financial year ending 28 February 2026 the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’. In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

Approved and authorised by the Board on 12 May 2026 and signed on its behalf by:
 

.........................................

John Patrick Loughran

Director

Gateshead Visionplus Limited

Notes to the Financial Statements for the Year Ended 28 February 2026

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Forum 6
Parkway
Solent Business Park
Whiteley, Fareham
United Kingdom
PO15 7PA

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 102 Section 1A – small entities.

Basis of preparation

The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the company and are rounded to the nearest £.

Key areas of estimation uncertainty and judgments

Deferred revenue
Customer data is used to estimate the value of uncollected spectacle sales which should be deferred at the year-end. Deferred revenue for contact lenses purchased by direct debit is estimated with reference to payment cycle information which is utilised to calculate the value of customer payments made in advance of delivery of goods.

Recoverability of trade debtors
The recoverability of trade debtors is assessed based on their age at the Balance Sheet date. A provision is made for any debtors where there are doubts as to their recoverability as a result of their age.

Going concern

Though there remains significant uncertainty regarding the longer-term global economic outlook, having considered all available information about the future, the current resources available, and the measures that could be taken to mitigate any adverse results, the directors are confident that there are no material uncertainties in relation to the company's ability to meet its liabilities as they fall due for a period of at least 12 months from the approval of the financial statements.

Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Gateshead Visionplus Limited

Notes to the Financial Statements for the Year Ended 28 February 2026

2	Accounting policies (continued)

Changes in accounting policy

With effect from 1 March 2025, the Company changed its accounting policy regarding the classification of cash at bank and in hand. The cash at bank and in hand balance sheet line was previously made up of amounts held in the group treasury company. These balances are now classified within Debtors, under Group Treasury Company. The directors believe that this provides reliable and more relevant information, as it better reflects the commercial substance of the balances, and highlights the entity’s financial position with respect to related parties. There are no adjustments required as a result of this change which impact equity in any period.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from the sale of goods and services is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods, or when services are provided and the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Deferred revenue arises when cash is received in advance of revenue being earned, either in the form of payments received for spectacles which have not been collected or direct debit payments received for contact lenses in advance of delivery of the lenses to the customer.

Tax

Current tax is provided at amounts expected to be paid (or recovered) using tax rates and laws which have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences which are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements, except that unrelieved tax losses and other deferred tax assets are recognised only to the extent that the directors consider that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

The company is within the scope of the OECD Pillar Two model rules. For the year ended 28 February 2026, the company has no related current tax exposure under Pillar Two Legislation.

Short term debtors and creditors

Debtors and creditors with no stated interest rate and which are receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other operating expenses.

Cash at bank and in hand

The company utilises the services of a group treasury company. Balances due from (or to) the group treasury company, which share many characteristics of a bank account, are included within Debtors (or Loans and borrowings).

Gateshead Visionplus Limited

Notes to the Financial Statements for the Year Ended 28 February 2026

2	Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Final dividends are recognised as an appropriation of equity when approved by the company's shareholders. Interim dividends are recognised when paid.

Defined contribution pension obligation

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a debtor.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2025 - 9).

4

Debtors

	Note	2026 £	2025 £
Trade debtors		41,047	22,766
Group treasury company	8	61,621	73,644
Amounts owed by related parties	8	-	723
Prepayments and accrued income		3,301	5,700
Taxation and social security		6,700	8,571
Corporation tax asset		877	-
Deferred tax assets		224	200
		113,770	111,604

Details of non-current trade and other debtors

£224 (2025 -£200) of Deferred tax assets is classified as non current.

Gateshead Visionplus Limited

Notes to the Financial Statements for the Year Ended 28 February 2026

5

Creditors

	Note	2026 £	2025 £
Due within one year
Trade creditors		311	682
Corporation tax		-	7,548
Accruals and other creditors		9,720	9,866
Amounts owed to related parties	8	6,975	1,427
Deferred income		23,081	23,763
		40,087	43,286